While my disgust for Aubrey McClendon and Chesapeake Energy’s (CHK) board of directors ethics and self dealing prevents me from investing more than a very minimal amount into the company, I do believe the stock is undervalued. I’m also very interested in the bonds if they go down a little further to yield 10% to maturity. This is a company with extremely valuable assets in a cyclical depression in natural gas prices. They have constantly overspent and gambled just like their CEO and that is not the type of stewardship that any investor should accept.
INVESTING IN THE FINANCIAL MARKETS INVOLVES RISKS. OPTIONS ARE NOT SUITABLE FOR ALL INVESTORS.